The plaza contains space for more than 400 stores and 30 restaurants and cafes in approximately 165,000 square metres (1,780,000 sq ft).

[8] In 2000s, a market near the Kyiv Refrigeration Plant was demolished to build a large mall called Lybid Plaza.

Lybid Plaza was presented at MAPIC retail forum in Cannes in 2007 and 2008, and various developers were interested in buying a 50% share of the it, but the global financial crisis interrupted these plans.

In December 2011, the statue made by Frank Meisler was transported from Israel to Ukraine in order to be placed inside Ocean Plaza and to become a symbol of the mall.

[13] In July 2012, Vasyl Khmelnytsky, Andrey Ivanov and Vagif Aliev sold Ocean Plaza to Russian TPS Nedvizhimost for US$280−350 million.

In social media, the organization described their actions as a peaceful protest and stated that they didn't interrupt the work of Ukrainian business.

In August, the mall was seized because of its Russian owners, and control was transferred to the Agency for Investigation and Management of Assets.

[23] In the evening of 13 January 2020, due to an accident at the underground pipeline, Ocean Plaza was flooded with boiling water.

The shopping mall's security had to block the elevators because the underground floor was completely filled with water.

[24] On 16 January 2022, an unknown person informed the call center of Security Service of Ukraine that Ocean Plaza had been mined.