Located just minutes from the airport's departure and arrival terminals, the park will be roughly the same size as the MCG and capable of pumping out 1000 two-metre waves every hour.

Construction begins on Thursday, with the first surfers expected to hit the waves in early 2019.

The lagoon, made up of six different zones, will deliver authentic and safe waves for surfers of all skill levels, all year round, URBNSURF founder Andrew Ross said.

"(We're) unlocking the geographic limitations of surfing by bringing the beach to your backyard," he said.

The facility will also be helpful for Australian surfers as they prepare for the 2020 Tokyo Olympic Games, where the sport has been added to the official program, Mr Ross added.

The company has secured a 30-year lease from Melbourne Airport to operate the complex and anticipates it will generate more than 300 jobs during construction and another 50 full-time ongoing positions.

"(It) will bring a whole new industry to the area, resulting in hundreds of additional jobs ... and a new world of opportunity for young people from the suburbs surrounding it," Melbourne Airport's Linc Horton said in support of the park.

Australian Associated Press