We propose a holographic projection system that achieves high image quality, brightness, and light efficiency. Using a novel, to the best of our knowledge, light-efficiency loss function, we are able to concentrate more light on the projection region and improve display brightness compared with conventional projectors. Leveraging emerging artificial intelligence-driven computer-generated holography and camera-in-the-loop calibration techniques, we learn a holographic wave propagation model using experimentally captured holographic images and demonstrate state-of-the-art light reallocation performance with high image quality.