Paradise is the place of peace. It is already created and thus, it exists now. Allah ta^ala said in Surat al ^Imran Verse #133:
﴿وسارعوا إلى مغفرةٍ من ربكم وجنة ٍعرضها السماوات والأرض أُعدت للمتقين﴾ سورة آل عمران
The verse means: [Rush for forgiveness from your Lord and for Paradise, (which is) as wide as are the heavens and the earth, and has been prepared for the pious].
Paradise shall remain eternally without an end.
Allah ta^ala said in Surat an-Nisa’ verse #13:
﴿ومن يطع الله ورسوله يدخله جنات تجري من تحتها الأنهار خالدين فيها وذلك الفوز العظيم﴾ سورة النساء
The verse means: [and whoever obeys Allah and His Messenger will be admitted to gardens [in Paradise] under which rivers flow, remaining eternally therein; that will be the great success.]
Most of its people are from the poor, as the Prophet, salla-l-lahu ^alayhi wa sallam, said:
دخلت الجنة فرأيت أكثر أهلها الفقراء…
This means: “I entered Paradise and saw that most of its people are the poor…”
In it, Allah prepared what no eye has ever seen, what no ear has ever heard, and what no human heart has ever thought of for his pious slaves. The Prophet, salla-l-lahu ^alayhi wa sallam, said: Allah said:
“أعددت لعبادي الصالحين ما لا عين رأت ولا أذن سمعت ولا خطر على قلب بشر”، رواه البخاري.
This means: ”I have prepared for My pious slaves things no eye has ever seen, no ear has ever heard of, and nobody has ever thought of”, narrated by al-Bukhariyy.