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Siam Park's construction started in 2004 and cost 52 million euros. Originally stated to open in May 2007, it has endured construction problems, however the park finally opened to the public on September 17, 2008. The park's plans also originally included a roller coaster, but the park has opted to focus on developing the first phase of the park in order to open the park as soon as possible.
The park is built on a hill, which permits the slides to follow the park's terrain similar to terrain roller coasters. Hence, they lack the prominent support structure present in most water slides.
Siam Park includes Thai theming on all of its rides, park buildings, and restaurants. The park's 25 buildings are the largest collection of Thai-themed buildings outside Thailand. The park's designer, Christoph Kiessling, received permission from the Thai royal family to use the park's name and theme; but, to respect the family's wishes, he did not copy royal palaces, temples, or statues of Buddha in the park.
In addition, the restaurants serve Thai food as well as family favorites. The park also has a Thai floating market.
Siam Park is the world's first green water park. The park's water is heated to 25 °C (77 °F). Keissling calls Siam Park the "first air conditioned outdoor aquatic park in the world". To conserve the island's water, Siam Park has a desalination plant on site, which desalinates 700 cubic meters (25,000 cu ft) of sea water per day. After the water is used in the rides, the park recycles the water by using it to water the park's plants. In addition, Siam Park has the first natural gas plant in the Canary Islands.