The textile shop A. and R. Amschelberger, which gives the abbreviation ARA for the former department store, started to build it in 1930. On January 5th, 1931, the building burned for two and a half hours. However, due to the steel structure, it withstood the flames. It was decided to install a Springer fire protection system immediately afterwards. The building was then opened in 1932. Another fire in 1961 was quickly brought under control thanks to the Springer system and the steel frame construction.The architect Milan Babuška developed the plans for this house in 1927/28. In socialism the house was used as a department store (Obchodní dům) Perla.
In 2014 the Austrian real estate company ECE took over the house. It was then extensively modernized. The neon lights on the house are particularly noticeable in the evening. The Czech National Heritage Institute NPÚ did not allow cost-saving LEDs, but this also gives the house its original charm at night. The lettering ARA was also added again at the highest point of the house. With the lighting effect, but also the architecture itself, Prague regains one of its magnificent interwar houses. It reminds in details of plans by Bruno Taut, who set highlights in the cityscape with his ideas of a city crown, albeit with a different conceptual and philosophical concept.