NovSiamese Stone Development
Siamese Stone Developments Co., Ltd. is a relatively young Thai project-development company created for real estate expansion into Phuket. The legal entity, registration no. 0105565203529, was incorporated on 26 December 2022 with THB 5 million in registered capital, originally as Dynasty Stone Co., Ltd., and adopted the Siamese Stone Developments name in October 2023. Its public history is tied to a partnership involving Siamese Asset, Ritta and Dynasty Stone, with Cornerstone also presented in project materials as a project-management partner.
A company name is not a recommendation. Check the project company, contract and selected unit before reservation.
Overview
Siamese Stone Developments Co., Ltd. is a relatively young Thai project-development company created for real estate expansion into Phuket. The legal entity, registration no. 0105565203529, was incorporated on 26 December 2022 with THB 5 million in registered capital, originally as Dynasty Stone Co., Ltd., and adopted the Siamese Stone Developments name in October 2023. Its public history is tied to a partnership involving Siamese Asset, Ritta and Dynasty Stone, with Cornerstone also presented in project materials as a project-management partner.
Track record
The company’s first clearly documented scheme was Island Collection in Choeng Thale, a nine-villa private pool development launched by the partners in 2023. Its next major project, Siamese Bangtao, comprises Siamese Bangtao I and II and is being developed as a low-rise condominium in the same Phuket area. That gives Siamese Stone a genuine two-project Phuket development record, but still a short one; the much longer portfolios of Siamese Asset or Ritta should not be presented as if they were completed projects of Siamese Stone itself.
Segments and prices
Siamese Stone currently spans two very different Phuket price segments. Island Collection launched as a limited luxury-villa scheme from THB 69 million, with DDProperty showing 2026 asking prices of roughly THB 70-78 million. Siamese Bangtao is positioned much lower, with current listings on the same portal at approximately THB 3.6-13 million. These are dated specific to the project asking prices rather than a permanent developer-wide price range.
Geography
Siamese Stone is registered in Bangkok, but its documented development activity is concentrated in Phuket. Both Island Collection and Siamese Bangtao are in Choeng Thale, Thalang, around the Bang Tao-Layan area. The sources reviewed do not establish any standalone Siamese Stone developments outside Phuket.
Reliability and public record
The company is identifiable in Thai corporate records, and Siamese Asset publicly discloses its participation in the joint venture; TRIS Rating states that Siamese Asset owns 19% of Siamese Stone. For Siamese Bangtao, Thailand’s Smart EIA Plus database lists approved environmental reports for both Siamese Bangtao 1 and Siamese Bangtao 2, while the project’s July 2026 update says environmental approval and construction permits had been obtained and structural progress had reached about 30%. The limitation is that Siamese Stone itself is not a listed company and has existed as a separate venture only since 2022, so Siamese Asset’s financial history and Ritta’s contracting record should not be treated as a direct guarantee of Siamese Stone’s obligations.
What to verify
For a Siamese Bangtao purchase, the contractual seller and project owner should be matched to the registered entity. The official registry uses SIAMESE STONE DEVELOPMENTS CO., LTD., while some marketing materials use the singular form “Development”, so the exact legal name matters. Buyers should confirm whether the selected unit belongs to Siamese Bangtao I or II, review the developer’s land rights and any encumbrances, permits, the current construction timetable and contractual remedies for delay. Foreign purchasers also need unit-specific foreign-quota confirmation and a clear ownership-registration route; if a leasehold option is offered, its term, renewal wording and registration mechanics require separate review. The payment account, any buyer-money protection or security, common-area charges and sinking-fund contribution should also be documented rather than assumed from sales materials.
Projects in the NovAsia catalogue
This list is assembled from the project registry by the developer identifier; it is not a claim of a complete corporate portfolio.
ThailandSiamese Bangtao
Frequently asked questions
Is Siamese Stone the same company as Siamese Asset?
No. Siamese Stone Developments Co., Ltd. is a separate joint-venture company with its own registration number. Siamese Asset participates as an investor, with TRIS Rating reporting a 19% stake. A buyer should therefore not assume that the sale contract is directly with listed Siamese Asset; the contracting entity must be checked for the specific project.
How long has Siamese Stone existed?
The legal entity was incorporated on 26 December 2022. It was initially named Dynasty Stone Co., Ltd. and was renamed Siamese Stone Developments Co., Ltd. in October 2023. Its partners have much longer operating histories, but those histories are not the same as Siamese Stone’s own corporate age.
Has Siamese Bangtao received environmental approval?
Yes. Thailand’s Smart EIA Plus database lists approved environmental reports for both Siamese Bangtao 1 and Siamese Bangtao 2. The project’s July 2026 construction update also states that environmental approval and construction permits have been obtained. Transaction due diligence should still match those approvals to the exact phase and unit being purchased.
Sources
Sources are named for independent checking. NovAsia does not publish outbound links.
- DataForThai · Siamese Stone Developments Co., Ltd. — incorporation, name change, capital and registered address · 26.08.2026
- Siamese Stone Developments · Siamese Bangtao — official site: project structure, partners and July 2026 construction progress · 26.08.2026
- Office of Natural Resources and Environmental Policy and Planning (ONEP) · Siamese Stone Developments — government project-owner record for Siamese Bangtao 1 and 2 · 26.08.2026
- TerraBKK · Formation of Siamese Stone and launch of Island Collection by Siamese Asset, Ritta and Dynasty Stone · 26.08.2026
- TRIS Rating · Siamese Asset — 19% investment in Siamese Stone · 26.08.2026
- Siamese Stone Developments · Island Collection — official site: nine villas, project owner and buyer disclosures · 26.08.2026
- DDProperty · Siamese Bangtao — current asking-price range, project type and expected completion year · 26.08.2026
- DDProperty · Island Collection — current listings and project profile · 26.08.2026