The home arena for the UNICS basketball club, it opened in 2002, when the Maly (Small) Hall began operating. A year later, the Bolshoi (Large) Arena was opened. Similar basket halls can now be found in Kaliningrad and Krasnodar – in Kazan, they insist that in their shape they are similar to the traditional Tartar "tyubeteika" form of headwear.
The Arena has participated in events such as the Final Four FIBA-Europe League and the Light Athletics European Championship, as well as federal-level matches and events in volleyball, gymnastics, field athletics, badminton and mixed martial arts. Concerts are on occasion staged here, with performances by bands such as A-ha, Deep Purple and the Russian rockers DDT. Also home to the Premiere restaurant.