The present invention, provides a foldable wall bed/sofa (100) comprising: a pivotable bed frame (102), a foldable sofa frame (108), a connector (116) for connecting said foldable sofa frame (108) to said bed frame (102), a sofa retracting mechanism comprising a sofa locking device (118A, B) for keeping said foldable sofa frame (108) folded when rotating said bed frame (102) to vertical/horizontal positions, and a bed retracting mechanism (106) comprising a bed locking device (120) for keeping said bed frame (102) fixed in vertical position. Said foldable wall bed/sofa (100) configurable to at least, one of: (a) said bed frame (102) maintained in a horizontal position with said sofa frame (108) folded and positioned underneath the lower surface of said bed frame (102); (b) said bed frame (102) maintained in a vertical position where said sofa frame (108) is folded and positioned adjacent, to the lower surface of said bed frame (102); (c) said bed frame (102) maintained in a vertical position where said sofa frame (108) is unfolded in a horizontal position.