GDP growth but who wins?

I stopped by a local fish shop on my way back today.
Since there were no other customers, the shop owner started chatting to me.
He was grousing about how it was difficult to make ends meet these days.
I understood what he meant when he told me that his monthly rental was about $4k for a shop space of 200 sq feet or so!
And his location is a rather low traffic area under a HDB block.
For those familiar with the aquarium scene, he probably has to sell 4-5 arowanas each month just to break even. A tough ask.

Earlier, I was at Tanjong Pagar MRT for lunch. I saw at least 5-6 retail outlets permanently shuttered.
Last week, there was a report in the local media about how retailers at train stations and underground exchanges were facing difficulties.

If you've been to Central at Clarke Quay recently, the sheer amount of empty shop spaces is quite shocking.
There are probably alot more retailers, Orchard Road or heartlands, that are in the same situation.

One would think that with scenes like these, the country is in recession. But Singapore's GDP grew at an astonishing rate last year, the fastest in the world!
So why hasn't GDP growth trickled down to more parts of society?

The people benefitting from GDP growth are the landlords, who in all likelihood are the GLCs and related companies. They adroitly use the "growing" economy as an excuse to up rentals.
Tenants also have to contend with relentless hikes in utilities.

When margins are hit, retailers turn to cheaper foreign labour or reduce quality/quantity (eg. food).

So who wins in the end?