The arena was constructed in 2009 by the Mika Corporation Ltd., the owners of the currently-defunct football club Mika FC. It is located near the Mika Stadium.
The construction of the Mika Sports Complex was launched in 2006 on the grounds of the former Araks sports complex. The football stadium was completed in 2008, while the indoor sports arena was put in service by 2009.
The arena was owned by the Mika Corporation until 2014. However, on August 28, 2014, due to the accumulated debts of the owners, the ownership of the entire sport complex was transferred to the Government of Armenia for AMD 9.045 billion (US$22 million).[1]