A folding wall partition includes foldable panel assemblies. Each panel assembly includes an upper panel and a lower panel. The upper and lower panels extend substantially in a common vertical plane when in a deployed position, and extend laterally outwardly of the common vertical plane in a stacked relationship when in a stored position. A moving mechanism engages the panel assemblies to displace them between the stored and deployed positions. A cover assembly has cover panels. The cover panels extend in a first common horizontal plane when in the deployed position and are substantially coplanar with the ceiling to conceal a cavity. The cover panels extend in a second common horizontal plane higher than the first common horizontal plane and within the cavity when the cover panels are in the stored position.