Oslo Spektrum opened in December of 1990, completing its first full year of operations in 1991. The arena is owened by Norges Varemesse.

Oslo Spektrum was planned and constructed as part of a scheme to revitalize the Grønland/Vaterland area of Oslo. At the heart of the project was the city's need for a flexible multipurpose arena. Oslo Spektrum has created a bridge between the city centre and the inner eastern city centre area and has helped to shift the centre eastwards. In urban planning terms the arena has played a key role in that its function and location have helped to resolve a difficult local planning situation and at national level it has helped to lift Oslo's role as capital city.

The arena was designed by architects LPO Arkitektkontor AS. In collaboration with artist Guttorm Guttormgaard and ceramicist Søren Ubsisch copies of print fragments created by artist Rolf Nesch were used to decorate the brick façade of the arena. The choice of materials and architectural expression garned widespread praise and displayed aesthetic qualities rarely found in modern public buildings.