$re = '/(?<fullMatch>(?<prop>\w+\s*=\s*)({)(?<quote1>["\'`])(?<string>[^"$\'`{}]*)(?<quote2>["\'`])(}))/m';
$str = '<ReactComponent
property={true}
target={\'string\'}
/>
export const ReactComponent = () => <div property target={"string"} />
<ReactComponent
property={true}
target={`string`}
/>';
$subst = "$2$4$5$6";
$result = preg_replace($re, $subst, $str);
echo "The result of the substitution is ".$result;
Please keep in mind that these code samples are automatically generated and are not guaranteed to work. If you find any syntax errors, feel free to submit a bug report. For a full regex reference for PHP, please visit: http://php.net/manual/en/ref.pcre.php