[1] First proposed in 2013, the arena is planned to be a venue for local and international concerts, sports events, international conventions, and as the venue of the Cebu Schools Athletic Foundation, Inc. (CESAFI) and some select Philippine Basketball Association (PBA) games.

The arena was also one of the proposed venues for the unsuccessful Philippine bid for the 2019 FIBA Basketball World Cup.

[2][3][4] In January 2017, reports emerged that developer SM Prime Holdings had canceled its plans to build the arena.

[5][6] However, plans for the arena resumed in late 2019, with the arena, instead of being within the SM Seaside complex, now placed within South Coast City, an adjacent mixed-use development co-owned by SM Prime with Ayala Land.

[7][8] The arena is reportedly being eyed as one of the venues for the 2025 FIFA Futsal Women's World Cup.